How can Foreigners Rent Homes in Singapore?

Name: How can foreigners rent homes? | A guide to expats living in Singapore
Uploaded: 2020-08-21T17:36:06+08:00
Channel: Tiwi
Description: Foreigners renting homes must first fulfill visa requirements. Following that, we list out the rules and procedures to know about renting houses & appartments in Singapore.

Eligibility criteria for tenants

If you are a foreigner (not Singaporean or Permanent Resident), you are required to fulfill a certain requirement to rent a home in Singapore. One of the criteria is to possess a long term stay pass issued by the Ministry of Manpower (MOM), such as:

A valid employment pass
Work permit such as an S-Pass
A Student Pass
A Dependent Pass
A long-term social visit pass

The application process should not be underestimated because your entire relocation to Singapore depends on it. Approach established and licensed recruitment agencies like Paul Hype Page with insights into what MOM is looking for.

Passes held by foreigners must be valid for the long term of at least six months starting from the date of application. There are also certain groups of people that may be ineligible for certain passes. Apart from this, work permit holders from the following sectors must be Malaysian:

Construction
Manufacturing
Marine
Processing

Note: Foreign tourists are not allowed to rent homes in Singapore and stay as tenants. They must show authorization to stay long term in Singapore.

Housing Options

Renting private homes is one of the most practical options for most foreigners that relocate to Singapore. The popular options for foreigners who relocate to Singapore are as follow:

Room in a shared HDB flat
Room in a shared condominium or house
Entire Condos
Landed House

Consider hiring an agent for house hunting

While searching for the perfect home best meets your requirements and comfort even at the best of times make you feel like finding a needle in a haystack. The condition is more dire if you are a tenant and don’t know where your search meets the best results. In this condition, hiring going for hiring an agent is one of the best options to consider. They use their expertise to find a perfect house for you and can negotiate on your behalf.

Letter of Intent (LOI)

Once you are done with your property search and negotiation about price, contract period, and deposit end, then a LOI is needed to be organized by you as a requirement.

You can seek help from an estate agent for the LOI. Please ensure that all mentioned below must be covered by the LOI.

Diplomatic or Repatriate Clause: it is essential to consider for tenants in case if you lost your employment or transfer to another branch in another country. The clause serves as a jail free card for you. After you have lived for a year in a property, it’ll let you provide two months’ notice.
The “Good Faith” Deposit: the landlord will take ownership out of the rental market once you paid this deposit. The deposit amount is almost equal to one-month rent. After signing the tenancy agreement, the deposit will become a part of a security or your first-month rent.
Security Deposit: it is equivalent to one month’s rent for every year, ensuring that you are leasing the property. Once the tenancy agreement is signed, you’ll pay this. The refund is done by the end of tenancy, as long as you haven’t caused any damage to property or broken, broken tenancy agreement terms.
The Terms of Lease: it refers to the outline of terms how long you’ll lease the property, there is an option to renew the lease (how long for), and necessary notice to leave the house.

Depending on renting a specific property, there may be additional items. It also includes whether furnished accommodations are provided or not and any pertaining stipulations to those items.

After the letter is finalized, both parties will be able to sign the tenancy agreement.

Congratulations, you are ready to rent homes in Singapore. However, don’t forget to renew your long term stay visa to continue residing in Singapore. Once again, an important task like this can be entrusted to industry experts like Paul Hype Page!